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Partners Ann, Bob, and Carol of ABC, a calendar-year partnership, share partnership profits and losses in a ratio of 5:3:2, respectively. All three materially participate
Partners Ann, Bob, and Carol of ABC, a calendar-year partnership, share partnership profits and losses in a ratio of 5:3:2, respectively. All three materially participate in the partnership business. Each partner's adjusted basis in the partnership as of December 31, 2023, was as follows: Ann $19,000 Bob 22,000 Carol 9,000 The partnership incurred an operating loss of $50,000 in 2023. What are Ann's, Bob's, and Carol's shares of the loss deductible on their 2023 individual income tax returns
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